Kovai.co is a multi-product enterprise SaaS company specializing in enterprise integration and knowledge management space based out of Coimbatore, India, and London, UK. Kovai.co is a technology partner of choice for many of the world’s leading enterprises to manage and monitor their Microsoft BizTalk and Azure Serverless environments. Kovai.co product team consists of thinkers and innovators who are redefining the way robust Enterprise Software and SaaS products are built.
In an interaction with MI, Mr. Sunil Krishna, Vice President, Marketing, Kovai.co, speaks about the importance to track marketing performance in SaaS.
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Q) Tell us more about Kovai.co. What is the USP?
Kovai.co is a bootstrapped & profitable multi-product SaaS company specializing in enterprise integration and knowledge management space based out of Coimbatore, India, and London, UK. Kovai.co is a technology partner of choice for many of the world’s leading enterprises to manage and monitor their Microsoft BizTalk and Azure Serverless environments. Kovai.co’s product team consists of thinkers and innovators who are redefining the way robust Enterprise Software and SaaS products are built from a tier 2 city like Coimbatore and that’s our USP.
Q) How and why it is important to measure and track the marketing performance in SaaS?
SaaS as a business model is becoming very popular in India and globally since the pandemic. This means there is a lot of competition, and it’s only going to increase. Our theory is simple, we make informed decisions on marketing channels based on data driving insights and learnings.
Here, there is no longer a sales cycle compared to traditional IT product companies. Therefore, the conversions happen quicker. In this short process, it is important to define and measure the marketing campaign, channel, expenditure, and KPIs. By this, SaaS providers can determine the impact of marketing strategies on revenue, and the cost of customer acquisition.
Q) What are the current trends in SaaS marketing?
Some of the recent trends in the SaaS marketing landscape are:
- Accelerating Digital Transformation
Covid-19 has brought out a major transformation with the way people and enterprises use technology, with most opting for cloud-based / SaaS platforms.
In terms of businesses, these new – covid induced norms, help in scaling the company through digital transformation. With the learnings from Covid and from various market trends, marketing experts have started to push certain products and working platforms, leveraging the business’s need for cloud adoption.
Digital marketing helps in identifying and connecting the right customer with the right platform so that it is mutually beneficial; thereby making it a noteworthy trend in the SaaS Marketing space.
- Influencer Marketing
SaaS has a strong ecosystem, which allows startups to interact with larger enterprises in the field. This allows larger enterprises and SaaS enthusiasts to act as brand advocates.
Besides, owing to the tech- The more prominent spokespersons become, the more tech-prone followers they have; hence becoming an influencer by their own right.
- The change of people experiences
People’s experiences are changing day by day, owing to a virtual digitalized world. Hence, the way people have started to think and buy has also changed ever since the pandemic hit.
SaaS marketing identifies this in people as a behavioral, mental, and psychological change; and therefore brings out newer and more efficient ways to reach out to them.
Q) How do you see the industry coping from the current pandemic?
Since most of the SaaS models are hosted on Cloud, SaaS companies were able to provide needed software solutions at a better cost (subscription format) for businesses during the pandemic.
The rapid adoption of SaaS products and the digital transformation across India and globally are indicators for a better future and pathways for the SaaS industry, which will provide solutions for every business vertical.
According to a report by SaaSBOOMi and McKinsey, India’s SaaS industry is projected to generate revenue of $50-70 billion and win 4-6 percent of the global SaaS market by 2030, creating as much as $1 trillion in value.
Q) What are your future plans and programs?
At Kovai.co, we intend to be a SaaS unicorn from Coimbatore within the next 10 years and are working towards making that dream a reality. Besides, we are also going to inaugurate our 40,000 sq ft office in Coimbatore soon.
We are striving to build a strong community of SaaS experts in Coimbatore. In fact, we aim at making Coimbatore the next big SaaS hub in India, and our plans are focused on this idea. We want to ensure that our employees feel no difference between a Tier 1 office and a Tier 2 office; our marketing efforts are also focused on this currently and we would like to make Kovai.co an employee first organization.